Small business loans up slightly in August
Lenders both traditional and non-traditional approved slightly higher numbers of small business loans in August, according to a study from online lender Biz2Credit. [Continue]
Associated expands financing divisions
Wisconsin’s Associated Bank is expanding its auto financing division and adding an equipment financing division. [Continue]
Two Minnesota community banks to merge
Minnesota’s First Independent Bank and United Southwest Bank announced Sept. 14 that they have signed an agreement to merge. [Continue]
FDIC report reveals improved unemployment numbers
The FDIC’s most recent quarterly State Profiles report reveals an Upper Midwest economy in much better condition than a year ago. [Continue]
State of Michigan: Four fake financial websites taken down
The Michigan Department of Insurance and Financial Services ordered the websites of four fake banks and credit unions to be taken down Friday. [Continue]
Bill raising CU lending limits draws community bankers’ ire
Community bank leaders say a bill that would raise loan maturity limits for federal credit unions would further unbalance the competitive field. [Continue]
Improving economy stunted by labor, supply shortages
The Federal Reserve says economic conditions have moderately improved across the region since mid-July but remain hampered by ongoing labor and raw material shortages. [Continue]
SBA honors 11 Minnesota lenders
The U.S. Small Business Administration’s Minnesota District recently recognized the 11 lenders across the state who made the most traditional SBA-backed loan programs over the past year. [Continue]
Ag, C&I loans drop in 2Q 2021
Agriculture and commercial and industrial loans saw significant year-over-year decreases across the Upper Midwest in 2Q 2021, a trend one Federal Reserve researcher attributes to an influx of government pandemic relief and increased income from rising commodity prices. [Continue]
Earnings spike as NIM hits record low
FDIC-insured institutions made $70.4 billion in second quarter 2021, a $51.9 billion increase (281 percent) from a year ago as net interest margin continued its contraction and loans grew slightly. The increase was primarily due to a $73 billion (117.3 percent) decrease in aggregate provision expenses, reflecting economic growth and better credit conditions. [Continue]